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33 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Triangle Trade |
Trans-Atlantic Trade Route Between Europe, Africa, and New World. |
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European Union |
Economic Partnership Between European Nations. Set Up To Remove Trade Barriers & Tariffs Between Member Nations. Encouraging Trade and Cooperation. |
Example of: Economic Interdependence Com |
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Commercial Revolution |
The Business Revolution That Occurred In Europe After The Middle Ages. Development Of Guilds. Start of Capitalism, Banking, and Investment. Growth Of Towns And Cities. |
Occurred In Europe After The Middle Ages. |
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Mercantilism |
Economic Theory That: Colonies = Wealth
Colonies Send Raw Materials To Mother Country. Mother Country Sends Finished Products To Colony.
Create A Favorable Balance Of Trade. |
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Four Modernizations |
Deng Xiaoping
Added Elements Of Capitalism To Economy In China.
Results: • Increased Production • Chinese People Demanded Political Rights • Tiananmen Square |
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Guilds |
Type Of Trade Association Of People In The Same Craft.
Important Of Guilds: 1. Ensure Quality & Set Prices 2. Train Workers
Apprentice - Journeyman - Master |
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Middle Passage |
Voyage Of Slaves From Africa To The New World.
CONSIDERED MIDDLE PART OF TRIANGLE TRADE.
CHARACTERISTED BY: INHUMAN CONDITIONS ON VOYAGE |
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Communism |
Karl Marx - Radical Socialism • History Is The Story Of Classes In Conflict • Haves VS. Have Nots • Greedy Capitalism Take Advantage Of Workers Labor • Revolution Of Proletariat
Ideas Inspire Communist Revolutions in Russia, Cuba, Vietnam, North Korea. |
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Columbian Exchange |
Global Transfer Of: Plants, Animals, Food, Ideas, People, Technology & Disease
Between The Old World And The New World. |
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Ecomiendas |
A system of large land grants to conquistadors and colonists in Spain's New World colonies.
Allowed the colonists to force natives and slaves to work on plantations. |
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Perestroika |
Mikhail Gorbachev
Attempted to reform & improve economy of Soviet Union by:
ADDING ELEMENTS OF CAPITALISM TO ECONOMY |
Similar to Four Modernizations |
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Perestroika |
Mikhail Gorbachev
Attempted to reform & improve economy of Soviet Union by:
ADDING ELEMENTS OF CAPITALISM TO ECONOMY |
Similar to Four Modernizations |
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Adam Smith |
Father of Capitalism
Wrote: "Wealth Of Nations"
Known For - Laissez-Faire
Supported: •Free-Market •Supply & Demand |
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The Great Depression |
1929 Global Economic Collapse Began With Stock Market Crash
Results: • HIGH UNEMPLOYMENT • Economic Problems • LED TO THE RISE OF FASCIST GOV'TS |
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Urbanization |
Migration of population from Rural Areas to Urban Areas
Creation of New Cities |
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Industrial Revolution |
Change from hand tool production in home to MACHINE PRODUCTION IN FACTORIES
BEGINS IN GREAT BRITAIN
Results: Increased Production, New Inventions & Technology, Urbanization, Poor Working Conditions |
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Free Market Capitalism |
Adam Smith - Wealth Of Nations
CHARACTERISTICS: • Laissez-Faire • Private Ownership • Supply & Demand • Competition • Innovation & Invention |
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Constatinople |
Capital Of Byzantine Empire
Controlled Key Trade Routes Between: Europe, Africa, & Asia |
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Traditional Economy |
• Based On Traditions and Customs • Based Primarily On Farming • Low Production • Use of Barter - Exchange of goods and services for other goods and seevices |
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Five-Year Plans |
Joseph Stalin: PLANS TO RAPIDLY INDUSTRIALIZE & INCREASE AGRICRULTUAL OUTPUT IN THE SOVIET UNION
Focus On: Heavy Industry & Weapons Production
LIMITED THE PRODUCTION OF CONSUMER GOODS |
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Pax Mongolia |
Mongols Impacted Global Trade By Making The Silk Road Safe
INCREASED THE TRADE ON THE SILK ROAD |
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Economic Interdependence |
When the economies of different nations are connected.
When nations depend and rely on each other to provide economic needs.
Importing & Exporting Between Nations |
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The Great Leap Forward |
Mao Zedong
Mao Zedong's plan to rapidly industrialize/modernize China. 5-YEAR PLANS + COMMUNES RESULTS: Massive Failure Led To Famine In China |
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NAFTA |
Economic Agreement Between U.S. / Canada / Mexico
Set Up To Eliminate Tariffs & Trade Barries |
Economic Interdependence |
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Karl Marx |
KARL MARX - RADICAL SOCIALISM THE FATHER OF COMMUNISM COMMUNISM = MARXISM • History is the story of classes i conflict • Haves Vs. Have Nots • Greedy capitalists take advantage of workers laber • Revoultion of Proletariat
IDEAS INSPIRE LENIN, STALIN, CASTRO, MAO ZEDONG, HO CHI MINH, POL POT |
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Manorialism |
Economic System Of Middle Ages / Medieval Europe
Lord Provides Protection And Land To Peasants & Serfs In Exchange For Taxes Paid In Crops & Work
Manor Revolved Around AGRICULTURE
Manor was Self-Sufficient Little to No Trade |
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Trans-Sahara Trade Routes |
African Kindoms - Ghana Mali, Songhai Controlled Trade Across The Sahara Desert
Gold & Salt |
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Laissez-Faire |
Government Has Little To No Regulation Of Business / Economy |
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Socialism |
GOVERMENT SHOULD PLAN THE ECONOMY FOR THE BENEFIT OF EVERYONE
COMMAND ECONOMY: Government makes all economic decisions. |
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Socialism |
GOVERMENT SHOULD PLAN THE ECONOMY FOR THE BENEFIT OF EVERYONE
COMMAND ECONOMY: Government makes all economic decisions. |
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Italian City-States |
Controlled Trade Routes After The Crusades
Located On The Mediterranean Sea
Venice Became A Center For Trade |
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Proletariat |
Working Class (Factory Workers) |
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Inflation |
When The Value Of Money Goes Down And The Price Of Goods Goes Up.
Examples: • France • Russia • Germany - Hyper-Inflation |
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